reports
FLSmidth announces changes to Group Executive Management
FLSmidth announces changes to Group Executive Management PRESS RELEASE FLSmidth & Co. A/S3 June 2025, Copenhagen, DenmarkFLSmidth announces that Mikko Tepponen, Chief Digital Officer & Chief Operations Officer, has decided step down from his position to pursue an opportunity outside of the company. Mikko joined FLSmidth in mid-2020 and his last day with FLSmidth will be at the end of June 2025. We are continuing to implement our new corporate model. As part of this process, the role of Chief Digital Officer & Chief Operations Officer will be eliminated. Consequently, the respective responsi...
FLS acquires South African manufacturing facility to strengthen its re...
FLS acquires South African manufacturing facility to strengthen its regional presence PRESS RELEASE FLSmidth & Co. A/S2 June 2025, Copenhagen, DenmarkLeading mining technology and service supplier FLS has acquired Scott Specialized Rubber & Engineering (SSRE), a manufacturing company based in Pretoria, South Africa. SSRE manufactures and markets specialised, heavy-duty rubber products for a variety of industries, including for mineral processing. The acquisition of SSRE directly supports FLS’s CORE’26 strategy, which prioritises service growth through targeted investments. As the global lea...
- ABGSC Capital Goods Research
- Anders Idborg
- Karl Bokvist
- Lara Mohtadi
VOLV B VOLVO AB CLASS B
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ABB ABB LTD.
SAND SANDVIK AB
TREL B TRELLEBORG AB CLASS B
MOCORP METSO OUTOTEC OYJ
ASSA B ASSA ABLOY AB CLASS B
SKF B SKF AB CLASS B
HPOL B HEXPOL AB CLASS B
ALFA ALFA LAVAL AB
MTRS B MUNTERS GROUP
HEXA B HEXAGON AB
EPI A EPIROC AB
NIBE B NIBE INDUSTRIER AB
ATCO A ATLAS COPCO AB
ALIV SDB AUTOLIV INC.
Toni Laaksonen confirmed to join FLSmidth on 1 June 2025 as President,...
Toni Laaksonen confirmed to join FLSmidth on 1 June 2025 as President, Mining Service Business Lines PRESS RELEASE FLSmidth & Co. A/S15 May 2025, Copenhagen, DenmarkAs announced on 18 February 2025, FLSmidth has appointed Julian Soles as President, Mining Products Business Line, and Toni Laaksonen as President, Mining Service Business Line. While Julian Soles officially started with FLS on 1 May 2025, Toni’s start date was yet to be announced. It has now been confirmed, and Toni will start on 1 June 2025. Contacts:MediaJannick Denholt, , Investor RelationsAndreas Holkjær, , Jannick Denhol...
FLSmidth & Co. A/S: Better-than-expected Q1 2025, with a strong financ...
FLSmidth & Co. A/S: Better-than-expected Q1 2025, with a strong financial performance in Mining driving an upgraded full-year guidance COMPANY ANNOUNCEMENT NO. 8-2025FLSmidth & Co. A/S 14 May 2025Copenhagen, DenmarkToday, the Board of Directors of FLSmidth have approved the Q1 2025 Interim Financial Report.Highlights in Q1 2025:14% increase in Mining Service revenue driven by effective backlog management and order executionMining Adjusted EBITA margin of 15.1% reflecting continued profitability improvementsNegative growth in Cement order intake and revenue continue to reflect de-risking and...
FLSmidth & Co. A/S: Better-than-expected Q1 2025, with a strong financ...
FLSmidth & Co. A/S: Better-than-expected Q1 2025, with a strong financial performance in Mining driving an upgraded full-year guidance COMPANY ANNOUNCEMENT NO. 8-2025FLSmidth & Co. A/S 14 May 2025Copenhagen, DenmarkToday, the Board of Directors of FLSmidth have approved the Q1 2025 Interim Financial Report.Highlights in Q1 2025:14% increase in Mining Service revenue driven by effective backlog management and order executionMining Adjusted EBITA margin of 15.1% reflecting continued profitability improvementsNegative growth in Cement order intake and revenue continue to reflect de-risking and...
FLSmidth raises its full-year 2025 financial guidance
FLSmidth raises its full-year 2025 financial guidance COMPANY ANNOUNCEMENT NO. 7-2025FLSmidth & Co. A/S 14 May 2025Copenhagen, DenmarkOn the back of a strong financial performance in the Mining business in the first quarter of 2025, FLSmidth raises its financial guidance for the full year 2025.The Adjusted EBITA margin in the Mining business is now expected to be in the range of 14.0% to 14.5% (previously 13.5% to 14.0%).Consequently, the Adjusted EBITA margin for the Group is now expected to be in the range of 13.0% to 13.5% (previously 12.5% to 13.0%). Further, the EBITA margin for the Gr...
FLS to deliver full flotation technology package to one of the world’s...
FLS to deliver full flotation technology package to one of the world’s largest and most efficient iron ore beneficiation plants PRESS RELEASE FLSmidth & Co. A/S13 May 2025, Copenhagen, DenmarkA progressive Indian miner and steelmaker has selected FLS to supply a full flotation technology package for what is set to become one of the world’s largest, most efficient and sustainable iron ore beneficiation plants globally. The plant will be fed with domestic, low grade iron ore where the FLS flotation system will upgrade it to a final product that will be amongst the purest and highest-grade iro...
- ABGSC Capital Goods Research
- Anders Idborg
- Karl Bokvist
- Lara Mohtadi
VOLV B VOLVO AB CLASS B
WRT1V WARTSILA OYJ ABP
ABB ABB LTD.
SAND SANDVIK AB
TREL B TRELLEBORG AB CLASS B
MOCORP METSO OUTOTEC OYJ
ASSA B ASSA ABLOY AB CLASS B
SKF B SKF AB CLASS B
ALFA ALFA LAVAL AB
MTRS B MUNTERS GROUP
HEXA B HEXAGON AB
EPI A EPIROC AB
NIBE B NIBE INDUSTRIER AB
ATCO A ATLAS COPCO AB
ALIV SDB AUTOLIV INC.
- Jesper Ingildsen
Embla Medical (Buy, TP: DKK35.50) - Better start to the year than expe...
The c4% organic growth in Q1 was better than feared (consensus c3%), and with growth momentum likely to pick up in the coming quarters, we expect the company to reach c6% (previously c5%) in 2025. It kept its 2025 EBITDA margin guidance despite steep tariff exposure, citing high uncertainty and mitigation efforts. We reiterate our BUY with a raised target price of DKK35.5 (34).
- ABGSC Healthcare Research
- Morten Larsen
- Tomi Railo
Metso (Buy, TP: EUR11.00) - Relatively good place to be
We reiterate our BUY and EUR11 target price, with only small estimate changes following the Q1 results (which brought stronger orders but softer earnings than we expected). Despite general uncertainties, we continue to view Metso’s end-market exposure, financials and valuation as attractive.
- ABGSC Capital Goods Research
- Anders Idborg
- Karl Bokvist
- ABGSC Capital Goods Research
- Anders Idborg
- Karl Bokvist
- ABGSC Capital Goods Research
- Anders Idborg
- Karl Bokvist
- Pierre FerraguÊ
- Mattias Holmberg
Autoliv (Buy, TP: SEK1050.00) - Solid Q1 despite tough landscape
We view the balance of 2025 as highly uncertain given tariffs and the demand outlook, but view Autoliv’s solid Q1 and reiterated 2025 guidance as signs of confidence from the company. We believe Autoliv will have to carry at least some of the tariff costs (management says all will be passed on), and thus remain below the 10–10.5% EBIT margin guidance (we estimate 9.9%). We reiterate our BUY, as we see almost 40% EPS growth in 2024–2026e. We have raised our 2025e adj. EBIT by 6%, but cut our targ...
- Jesper Ingildsen
Embla Medical (Buy, TP: DKK34.00) - All eyes on tariffs
We expect a slower start to the year than previously, but a likely decent Q1 EBITDA margin, helped by last year’s cost cutting and product mix. We expect the focus to be on potential tariff effects, where we estimate a 10–15% hit on EPS mainly related to Bracing & Support (B&S) produced in China and sold to the US. We reiterate our BUY, but have reduced our target price to DKK34 (39).
FLS opens new mill liner manufacturing facility in Chile that operates...
FLS opens new mill liner manufacturing facility in Chile that operates with 100% renewable energy and water reuse PRESS RELEASE FLSmidth & Co. A/S14 April 2025, Copenhagen, DenmarkFLS has inaugurated its new manufacturing facility for mill liners and related products in Casablanca, Chile, an important investment supporting the company’s strategic focus on mill liners in line with its CORE’26 strategy and MissionZero sustainability ambitions. The opening comes on the heels of the announcement of its new mill liner recycling service offering launched last week.FLS invested more than DKK 160 m...
- ABGSC Capital Goods Research
- Anders Idborg
- Karl Bokvist
- Lara Mohtadi
VOLV B VOLVO AB CLASS B
WRT1V WARTSILA OYJ ABP
ABB ABB LTD.
SAND SANDVIK AB
TREL B TRELLEBORG AB CLASS B
MOCORP METSO OUTOTEC OYJ
ASSA B ASSA ABLOY AB CLASS B
SKF B SKF AB CLASS B
HPOL B HEXPOL AB CLASS B
ALFA ALFA LAVAL AB
MTRS B MUNTERS GROUP
HEXA B HEXAGON AB
EPI A EPIROC AB
NIBE B NIBE INDUSTRIER AB
ATCO A ATLAS COPCO AB
ALIV SDB AUTOLIV INC.
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